Sweden: Sesame Oil Market 2024

Sesame Oil Market Size in Sweden

In 2021, after three years of growth, there was significant decline in the Swedish sesame oil market, when its value decreased by -15.7% to $X. In general, consumption, however, continues to indicate a resilient increase. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Sesame Oil Production in Sweden

In value terms, sesame oil production declined notably to $X in 2021 estimated in export price. Overall, production showed a dramatic decline. Sesame oil production peaked at $X in 2020, and then reduced dramatically in the following year.

Sesame Oil Exports

Exports from Sweden

For the third consecutive year, Sweden recorded growth in overseas shipments of sesame oil, which increased by 42% to X tons in 2021. Overall, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 100% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil exports surged to $X in 2021. In general, exports saw a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 139%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for sesame oil exports from Sweden, accounting for a 57% share of total exports. Moreover, sesame oil exports to Finland exceeded the volume sent to the second major destination, Denmark (X tons), threefold. The third position in this ranking was held by Norway (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Finland amounted to +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+0.5% per year) and Norway (+5.6% per year).

In value terms, the largest markets for sesame oil exported from Sweden were Denmark ($X), Finland ($X) and Norway ($X), with a combined 96% share of total exports. Iceland and the Czech Republic lagged somewhat behind, together comprising a further 1.9%.

Among the main countries of destination, the Czech Republic, with a CAGR of +280.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sesame oil export price amounted to $X per ton, declining by -17.7% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 31%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+151.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Sweden

For the fourth year in a row, Sweden recorded growth in purchases abroad of sesame oil, which increased by 16% to X tons in 2021. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil imports soared to $X in 2021. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 30%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Singapore (X tons) and Germany (X tons) were the main suppliers of sesame oil imports to Sweden, with a combined 52% share of total imports. These countries were followed by Thailand, the Netherlands, Somalia, Denmark, Japan, Turkey, India, Poland and the UK, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +146.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and Germany ($X) appeared to be the largest sesame oil suppliers to Sweden, together comprising 55% of total imports. Thailand, the Netherlands, Denmark, Japan, Poland, Somalia, Turkey, India and the UK lagged somewhat behind, together accounting for a further 40%.

Turkey, with a CAGR of +110.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, surging by 7.7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 an increase of 26%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while the price for Somalia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Somalia (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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